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about the contrast between the u.k. and the united states which i think is revealing, and some world's about -- words about challenges facing the world economy which is more important than those facing individual countries alone. the united kingdom was hit very badly by the financial crisis. total gdp fell by 6% between the peak at the beginning of 2008 and the trough in the second quarter of 2009. output still remains 3% below the peak level. and more than 15% below levels that output would have reached have the long run average growth rate merely continued. on top of that, the inflation rate has been a 2% target. and in the wake of the financial crisis, the budget deficit reached a level of 11% of gdp, a good part of that being structural. we have serious problems to contend with when trying to put in place an economic recovery program in 2009-2010. it was clear at that point that the u.k. needed a major rebalancing of our economy. the shift of spending away from consumption, private and public and toward the net exports whether exports or production to compete with imports. the st
in ubs have edged up in early trade after the bank announced a major settlement with u.s., u.k., and swiss regulators over its role in the libor fixing scandal. with more we'll look at the story with carolyn roth with us on set. i guess we're expecting a settlement, expecting something big. what have we learned today? >> well, first of all, i mean, the market reaction -- ubs up by 1%, can you believe that? what barclays was hit with $450 million fine, i mean, we saw a big hit in barclays' share price. this fine is three time the amount that barclays was fined. $1.5 billion or $1.4 billion swiss>>frank: francs. this is on the libor manipulation charges. ubs must pay swiss regulators $59 million in profits because the regulator can't fine ubs. the fine from the fsa is the biggest ever, 160 million pounds, $1.2 billion will go to the u.s. regulators. so the second biggest fine that was ever handed to a financial institution. of course, following that $1.9 billion fine that was given to hsbc. what we do know is that the company is admitting criminal wrongdoing in its japanese arm b
to allow the ecb to directly supervisor the three largest banks in each country except for the uk and sweden which have both opted out. european leaders need to give their seal of approval and silvia wadhwa is in brussels with the latest. sylvia, it sounds like the meeting went into the late hours of the night. it sounds like the uk and sweden got their way. how significant is this agreement? >> the early hours of the morning. one may wonder whether that's good news for sweden and the uk that they opted out of the banking supervision or whether that's good news for them in that sense that they opted out and had their way. bottom line is, we have an agreement. that's the most important thing. otherwise, they threaten meetings going between the years leading up to christmas because everybody agrees that we might have a type of agreement before the year is out. the agreement that is on the table, ecb will be the banking supervisor. the straightforward ecb supervisory council will be flanked by two other committees, a mediation committee and a steering committee. the personnel of this
are telling some american companies it is time to start paying their fair share there in the uk. even throwing around terms such as shame, outrageous when talking about it. executives from google, amazon, and starbucks all appeared before a parliamentary committee looking into how international companies minimize the tax they pay in the uk. richard quest is in london to explain it all. now, richard, not necessarily talking about tax evasion here. it's more like avoidance, minimization, what's the concern? >> reporter: that's exactly the point. the companies are not breaking the law, not doing anything wrong. the accounts committee described their actions as immoral claiming they have r. so arranging their tax affairs so as to pay no tax in the country where the money is earned. this applies to google, which uses ireland, applies to amazon, on the continent, and it applies to starbucks in amsterdam. what we learned is how these companies arrange their affairs. so even though the latte is bought in london, no tax is ever paid except on sales tax to the uk government. i need to demonstrate this t
is and the group hsbc, the uk's largest bank wants to put this behind it, trying to settle the serious allegations, $1.92 billion will be what they will pay the u.s. government, there will be a press conference later today, the justice department, the manhattan d.a. and others to put this to rest. banks operating in the u.s. have an obligation to know their customer and abide by u.s. laws and u.s. sanctions against some pretty bad characters and hsbc apparently didn't do that. that's the allegation of the united states government, helping transfer money for drug cart cartels, for terrorist groups, for countries we're not supposed to be doing business with overall. these sanctions around libya, myanmar, syria and mexican cartels, this is what hsbc says, wants to put the whole matter behind this. "we accept responsibility for our past mistakes, we have said we're profoundly sorry for them. the hsbc of today is a fundamentally different organization from the one that made those mistakes." they were rubber stamping transfers and one economic it any of an e-mail said "what is this, the school of low ex
over to the delta brand. this is all about increasing its exposure into the uk market, specifically the slots at heathrow. those remain the crown jewel in terms of the airline business going over to europe. if you have access to those slots, it's a much easier way to become profitable or increase your profits over in europe. by the way, there are 31 daily flights between the uk and north america. we'll find out exactly what happens in terms of frequent flier redemption possibilities between delta and virgin atlantic. remember, virgin atlantic is not part of any global alliance, not part of the sky team alliance, although many wonder if that's going to change with some time. take a look at shares of delta. richard anderson has had a nice little move here. some people would say, listen, this is all about jet fuel as it has moderated. there's something else at play here. we'll be talking with richard anderson about this at 11:40, first on cnbc. we'll talk to him after the press conference announcing this deal. you don't want to miss what he has to say. this is a ceo, and we've talked a
at the headline on the bottom of your screen. s&p 500 puts negative watch -- or negative outlook on the uk's aaa rating. you see the pound taking a pretty big hit versus the greenback on that news. you can also see, you know, our stock market's already been under, you know, a touch of weakness given maybe some of the comments out of d.c. but there's the s&p 500 down 6 points, nasdaq down as well. we're at the weakest levels of the day. that's certainly a headline to keep an eye on and the impact it's going to have in the currency markets throughout the day. >> i think that's a commentary on austerity. cameron came in and stripped austerity measures. it's been problematic. be careful how much austerity you actually induce into an economy. >>> shares of back referlackber r.i.m. trading at seven-month highs. whether the company has its mojo back. >>> we head to the trading pits to find out why gold is falling on its post-fed decision gains. we'll be right back. bob, these projections... they're... optimistic. productivity up, costs down, time to market reduced... those are good things. upstairs, th
scandal. in june, u.k. regulators slapped britain's barclays bank with a $450 million fine for similar charges. >> susie: u.s. regulators may be near an end to an anti-trust investigation of google's internet search results. at issue is whether google manipulates results of its internet search enge to hurt competitors. it was accused of unfairly promoting its shopping and travel services over those of others. google denies it used its dominance in the search business to hurt rivals. the federal trade commission is expected to wrap up the probe by the end of the year. and why a new program to help student loan borrowers could on another front google allowed its google maps app to be used on apple iphones, this has been a real controversial issue, as you know. and now apple iphone users will have access to that and it's not just about getting directions. a lot of revenues are involved here, advertising revenues, huge, enormous. >> big news. >> tom: it was. three months in the making, of course, when apple unleashed its new iphone it didn't come with that goog el-- google map app, now is
, no doubt about it. has dual citizenship between the u.k. and u.s. neighbor he believes, his dogs were poisoned by the neighbor who ended up getting murdered. i don't know. we'll see. but still no charges. tracy: sunday night movie. ashley: it is, it is. 48 hours will have a special in couple of years. as we do every 15 minutes take a check on markets right now. nicole petallides on the floor of the new york stock exchange. nicole, dow, at low of the day right now? >> it is under pressure. vix, fear index is so the upside. dollar is stronger. these things are pressuring the dow. we're back worrying about the fiscal cliff. i want to look a couple names hitting new highs, all-time highs, 52-week highs. start by looking at cvs caremark, farmsy health care provider this 2013 guidance is helping things along. they upped, raises the dividend with the upbeat outlook for 2013 that is giving the stock a nice boost. as i noted fresh all-time high for this particular company. we'll look at clearwire. everybody knows they have a deal already with sprint. now there is talk that sprint is offering t
, in the u.k. we have governing body. if you want to do a call in this country you have to get written permission from the person you want to wind up to actually be allow the call to be broadcast and go on air. australia does have similar rules. i think the radio station definitely has broken some rules and i think we're going to have to it with a and see how that pans out in the next few weeks. >> thank you. royal watcher there i appreciate it thank you very much. >> thank you very much. >> we wish the duke and duchess the best. we debate you decide. is it voter fraud or voter suppression. mike huckabee our pal has advice for the president on how to avoid taking us over that damn fiscal cliff. marijuana is legal in washington, soon to be legal in colorado. wait until you see what they are selling. would gun control really have saved the life of the woman killed by her football-playing boyfriend? all coming up. music: "make so" music: "make someone happy" ♪it's so important to make someone happy.♪ ♪it's so important to make meone happy.♪ ♪make just one someone happy ♪and yo
. nipton is experiencing a mini boom getting visitors are from all over. >> people from the u.k. tokyo, australia, france. i was amazed when i came to work here how many people from other countries come to visit our little town. >> and their little town's population has now blossomed to 60 residents. as clean tech job seekers stream into the area. >> it's terrific for me because it's sort of like i'm realizing my dream and doing something i really like doing that is turning into a business success. >> growman says he has more plans for town more solar panels. anything to get people within ecofriendly mind set to stop on by. harris back to you. >> harris: he has us talking about him so there you go. >> that's right. >> harris: anita, thank you. >> a warehouse filled with fireworks explodes killing one person and dozens of other person are hurt. it's our top story as we go around the world in 80 seconds. nigeria. it led to a massive fire in the country's largest city and their windows shook in homes files away. crews navigated through crowds. fireworks kept going off an hour after the in
all closed in europe. only the uk, french, dutch and spanish stock markets are open and they're going to be closing early. there are now only five trading sessions left in 2012. get your act together. stocks and bonds, solid gains so far this year. the dow has advanced 8% in total. the s&p 500 up almost 14%. the nasdaq has jumped 16%. it's been a good year. the end of the year also means we are just days away from the fiscal cliff, however, and that's the bad news. and looming tax hikes, spending cuts, all of that. both sides warning a very big deal becoming a bit more unlikely. >> and my one bit of advice to speaker boehner is this. you cannot pass a bill with just republicans. on a broad thing like this, you need both. and he has put himself with plan b and sort of an impossible position. he has to get these hard right goes to go along with him. and he and the president were going to say we're going to pass a deal with the majority of republicans and the majority of democrats in the house and senate, we would get a mainstream deal. >> i think we're going to fall out of the fiscal tr
about violent video games and movies, i think a lot of us would agree, countries like japan, u.k. they have the same violent video games and the same violent movies the thing they don't have is easier access to a weapon like that that was used. why not remove the weapons? >> when you say remove -- adam: can't buy it. >> how about the weapons that are already in circulation owned by people? adam: i think that's going to be an issue. you can't make people give the guns back. but you could start to restrict the sale. that's the argument that's being made, isn't it? >> the way i look at it is this, give me the exact verbiage of the law and see whether that would have stopped lanza. i submit to you it would not. for example, he has weapons in in the house already. separate issue, he's a mentally disturbed fellow and his mother has weapons unsecured in the house. adam: i don't disagree with you. david: very quickly, how much would this cost, this kind of security? >> if you used former military, per school anywhere between 40 and 50,000 dollars a year. david: for the nation, tens of bi
said. we know we're not perfect. this is the managing director, starbucks u.k. we've listened over the past few months. we're committed to the u.k. we will give us an opportunity to build trust and customers. starbucks admitted they were shocked -- they were surprised about the ferocity of the complaints against them. this feeling. does amazon and google follow suit? i think google is a different kettle of fish. google, you do it at your computer. you don't really make that same conscious decision as a consumer. amazon, possibly. you do go on to they could see a consumer backlash. it's the real consumer facing companies, like starbucks, and remember, suzanne, yesterday the british chancellor revised them downward. he raise the taxed and cut -- in that environment, what starbucks has basically done, voluntarily is say we'll pay our share. or at least part of it. >> appreciate it. this guy works as a consee arj in a powerful washington d.c. building. his passion to give back to his hometown in africa has now inspired a whole community. [ male announcer ] this december,
to the source. fast. [ male announcer ] stop the uh-oh fast with kaopectate. >>> the southwest uk is getting hammered with rain causing some travel nightmares. it has to rain a lot in the uk to make any kind of difference. they're used to it. there is floodwater everywhere in devon, england. the drenching rain is causing massive travel problems. with roads and rail lines as well washed over. that's affecting the commute for people. britain's lined up sandbags on the weekend and now officials are warning people about even trying to get out on the roads. parts of wales and scotland are also getting flooded. >>> people in chile and argentina are watching a volcano that straddled the border between the two countries. the volcano has been spewing smoke into the sky. ash has been raining down on surrounding towns. you can see it there. almost looks like snow. it is ash. i'm joined now in the phone by larry masten. so far, chile is on red alert, but no one has been ordered to leave. why is that, larry? >> well, i can tell you based on what i've seen in the reports from the chilean agency, there was
telehouse which is really the u.k. and europe equivalent to ashburn and 60 hudson, these two buildings in the u.s. and i know that in particular was the two cables down the east coast of africa both have their major hubs, their major nodes at telehouse in the docklands in london. and from there it's a straight shot to a landing station in mum bass saw, again, a sort of fascinating place partly because it is in the same spot as kind of the often chept port. -- the ancient port. you know, this is always the place where the international links have been made. >> host: andrew blum, when were these undersea cables that you referred to laid? and by whom? >> guest: well, there have been telegraph cables across z the atlantic for 150 years now. the current generation which depending on how you count whether you say individual strands or cable systems, there are about eight or or ten or some say twelve of them across the atlantic. the current generation was all laid since the broadband boom in the mid '90s in the -- i think the first one was finished in '97 until about 2002 when the last one wa
to make the uk's number one christmas single. his video has more than 7 million views in just two weeks. of course, there's some unwanted attention. turns out his visa had expired and british authorities have now said mr. mohammed, it's time to go home. so there is a price to pay. >>> there's a guy who won $1 million in the megabucks lottery and it turns out, the clerk screwed up. he messed up. he played the wrong ticket, but the guy won. thanks to the clerk playing the wrong game, the man went into the circle k convenience store in new hampshire. turns out the clerk sold him the tristate game and he won. so go to the clerk, buy him something nice, okay? >> when your stars are aligned, they are aligned. hold on for this next one. should i be angry? >> yes, be angry. apparently being angry and showing your anger is healthy and could add two years to your life. here's a new study, assessing 6,000 patients. they say hot heads live two years longer. >> i love it. >> we'll be right back. >>> this morning on "world news now," chrito >>> this morning on "world news now," christmas tornadoes. a
. starbucks has been brought up before parliament in the uk to answer questions about why they are not keeping their tax money at home. the reason is, the tax rates are too high on corporate profit. bring them down and the taxes will stay at home and you won't have it problem at all. >> yeah, i think the real underlying problem is the bad state of the u.s. tax code that forces people it take advantage of things that are legal if not necessarily patriotic. >> these companies are following the rules. nobody is accusing them even of breaking rules. >> it is not illegal. >> we have to expect them to do exactly that. >> fix the underlie be problem and you fix this. then they might actually good to work under this country. >> we should say thank you for doing that. >> jc penney throwing in the towel on no coupons policy. 20% off on friends and family discount over the weekend. has ron johnson finally come around? or too little too late john karner? >> i was a buyer into the story line. when i saw bill akman give his presentation on how jc penney would turn things around with no more coupons, i bough
company? >> this segment is about walmart. >> you know, i'm from the uk. i still think england rules the world. everything is little in terms of england. seriously, it's had its run. it is a yield play, expensive. i think you have much better opportunities in the retail space which i do like but i think on the higher end. >> do you buy this stuff that mike duke the ceo says the fiscal cliff is hurting? i can already hear the parade of excuses coming down main street. >> right. a great excuse to have in place right now and that is the reason for the sell off. i think the sell off preempted everything. this is why this is an opportunity now. >> all right. we'll end the argument there and go to the jury. josh, who made the more compelling argument? >> simon made a really compelling argument but i think pete is right on the stock. the bottom line is this is a stock people want to own. it's not terribly expensive. technically, on a longer-term time frame than the 15-day moving average this has broken out of a massive range it has been stuck in for 12 years. i still think it works and we'r
of u.k. and europe equivalent to ashburn and the buildings in the u.s.. and i know that in particular because the two cables down the east coast of africa does have their major hubs, their major nodes at telehouse in london. from their it's a straight shot to the landing place, again a fascinating place partly because it's in the same spot as the ancient port. this is always the place where the international -- >> host: andrew blum were and where these undersea cables that you refer to lade and by whom? >> guest: while there have been telegraph cables across the atlantic for 150 years now. the current generation of cables, pledged it depends on how you count, the individual strands or cable systems ,-com,-com ma sometimes two or even three individual strands, there are 10 or some say 12 of them across the atlantic. the current generation was all laid since the broadband boom in the mid-90s and the first was finished and 90 7-up until about 2002 when the last one was that and they are owned by a few different kinds of companies. they are all owned either by very large backbone companie
in the u.k. next year we'll expand it to two games and we're playing in toronto. we have had great success in other markets like mexico and the far east. i believe our future is very bright overseas. the game is very popular. our fans on a global basis want more and more football. that's what we're doing. we're responding to that interest. >> you talked about the culture. football players in the nfl are role models and in the nba as well and in other professional sports. how do you make sure that the players appreciate that by their personal conduct? >> well, we have a personal conduct policy which was put together with the players. and it's very important because they are role models and they're held to a higher standard. i think all of us in the nfl are held to a higher standard. when we don't reflect well on what i call the nfl or ourselves, then we're going to be held accountable. we have a program that's focused on education. it's on discipline. and when people don't meet the standard of the nfl, we're going to take action. there are consequences for that. >> what do y
in case. tests beginning in the uk for the first unmanned airplane flights. called jet stream. won't be carrying any passengers for now. >> i would say that's a good idea. >> think about it driverless cars. if you can have the car talk to the computer and the gps, satellite and program the coordinates and all pretty standard and clear, you can control congestion and the like. a lot of companies, including the agriculture companies, working on tractors and such have wen working on this a long, long time. >> can they drive stick? >> i don't know. that's a really john berman question. >> seems spooky to me. >> and glitches, right? always seeing glitches in technology. that's worry some. >> a lot of glitches in human driving. >> that's true. >>> 19 minutes past the hour right now the big bucks in the board room aren't what they used to be. the latest pay trend in corporate america, coming up. [ male announcer ] you are a business pro. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and from national. because only national lets you choos
of with the british system, and in the u.k. incentivize with the preventive checks, blood pressure, cholesterol, urine checks and in the hospital, they get incentivized and rewarded. in massachusetts if the doctor does not save them money, then the doctors get penalized. stuart: and how do you judge, is it cost per patient per lifetime that the doctor is judged on? >> so what's happening here is that doctors are entering into contracts with insurance companies and they're given what's called a global budget. and they get a set amount of money to take care of a patient. if they look after those patients economically and save money they're rewarded. if they do not look after patients and spend money excessively and doctors are penalized and they're tracking it. stuart: that's interesting. let's suppose you've got a universe of 200 patients for one doctor. we'll give you x number of dollars to treat 200 people. you go above the dollars you're going to get penalized and come out of your pocket. keep below that number, the total cost of 200. you're incentivized and keep the difference. >> that's how it wor
, the euro moving higher still under 130. the uk pound moving higher. the dollar down against all these currencies. we will be right back. >> 20 minutes past the hour, this is your fox news minutes. a navy seal dead after u.s. and nato operation could not a doctorate in eastern afghanistan. a member of the seal team six elite unit known to take out usama bin laden. the ducks american was safely removed after being held by the taliban. egyptian government reportedly allow the military to arrest civilians. the move is an attempt to safeguard the constitutional referendum for saturday. the order was to protect violence temporarily until the referendum resulted. manufacturing has been hit hard because of u.s. sanctions. facing financial crisis in the last four years. dissuading the nation from continuing uranium enrichment. those are your headlines. back to ashley. ashley: thank you very much. holiday sales hitting record numbers, but even an upbeat shopping season won't be the saving grace for some retailers so what does that mean for your portfolio? sandra smith has a look at the wi
about adult diapers? >> there is some household formation in the u.k. we'll get at least one new baby in the u.k. right? >> she's a smart person. i wasn't going sexist there. i know better than that. i'm not going over the sex cliff. >> she's fashionable. >> yes, she is. >> even i know she's fashionable. >> whatever she wears maternity wear, it will be a boost. >> does she go to gsw? i said that was discount. it's designer. and you've got to go there. >> there's one on 79th street. >> gorgeous store. you can go to whole foods and you can buy shoes. may i suggest you do this on saturday? just be part of american culture. >> what do you think the chances are that i would ever do that? >> don't you shop for holidays even? >> no. >> online? >> no. >> who buys presents for your children? >> my wife. >> are you an american? >> yes. >> why aren't you shopping? i question your patriotism. >> i bought enough stuff from china and thrown it away already. >> right now for valentine's day shopping we have to solve that long beach strike. >> clerical workers. >> you can't get things i want to start
're not being impacted at this stage. we are in the france, uk and spain and all of our businesses are growing in each market. we're hiring in all of those markets. anybody who wants to know. >> have you changed the mix of samples depending on the economic environment? for instance in 2008 did you have maybe a lower end price point product as well as a higher end or no? >> that's one thing about the beauty industry, trends are always changing. it's an accessible luxury. you've heard of the lipstick effect. when the company goes down people want to treat themselves. one thing we've seen this year is male trends. nail polish, nail art. >> carl loves nail polish. he just loves it. >> what are all those people who give out samples in department stores going to do when you put them out of business? >> they're doing something different. department store sampling and sampling in stores is a loyalty moment. it's not a great thing to do for customer acquisition. you still have to get a customer to walk up to you. we're doing something really different. it's customer acquisition and it's in a very targe
is set to open below 13,000. markets in europe mixed after a shortened session in the uk, france and spain. our road map starts right where we were months ago, waiting for the 112th congress to agree on a debt reduction package. the senate convenes at 11:00 a.m. >> the dow had its worst day in a month on friday. set to close december with a loss. the question is, does it continue to sell off if there isn't an accord in congress. >> we will always have china. manufacturing pmi data from last night is the best in 21 months. can we finally say the chinese economy has been stabilized. >> but of course, we start in washington. as you know, congress comes back today. the house gaveling into session now with legislative business starting at 10:00 a.m. the senate returns at 11:00 a.m. eastern. there are only a few hours left to get a deal done. eamon? >> you're already hearing people talk the way they talk on new year's day. a lot of people wish they could go back in time and do things differently. that's the way people are talking in washington about this fiscal cliff. feeling as if thi
and will probably happen in europe. the u.k. specialized in being the home of trading. they certainly don't want that to be taxed. so yes, there are people in congress. i think wall street is now the number-one contributor to political campaigns, or at least it is in the running for number one. i have been to washington many times and am involved with several groups that are trying to reform the business sector. it is very difficult because of the sheer amount of money that the finance sector is pouring into lobbying and campaign contributions. >> let's give a round of applause for lynn. [applause] we have the opportunity for you to purchase and have the book signed. we thank you all for being here. if you have further questions, she will be here signing books, so come and talk to her. >> in the fall of 1774, the british admiral and generals and diplomats were reporting to the crown that the colonists for sending ships everywhere to try to get ammunition and muskets and cannons. this was after the british sent more troops to boston after the boston tea party and so-called subversive acts. it is
if any laws were broken. >> who knows what the laws in australia and u.k. are? when i listen to those ryan roses things and that's happening live. i don't think they're getting anybody's permission to do anything. >> gretchen: you're a standup comedienne as well. >> my comedy -- i'm not a mean comic. i think if i make fun of anybody, it's myself most of the time. and i think you never know how people going to react when you're cruel. my father always said this, you never know what's going on behind somebody's eyes. and you tonight. you don't know what they've come into a room with. so look, a million times we've predicted the end of iron glee this country. i don't think this is the end of anything in this country. there are always people who are willing to go to extremes to get a laugh. i hope people will consider the possibility of what the results might be. this is something that will probably never happen again. it is a unique, unusual, very singular occurrence. >> eric: you're going to be on "glee"? >> i'm going to be on "glee"! i'm super excited. ryan murphy is an incredible tale
and australia and the uk. the political aspect would be huge. >> low-income students are risk averse. they do not have secret bank accounts where they can address the situation. and if they fail, the burdens of being on them. they are less likely to pursue a college education if it means earning more than their parents do in a year. we expect pell grant recipients to graduate with more debt than middle and upper income students. they are anywhere from 150% more likely to graduate. we are burdening those the least capable of the most that. the problem is that they are going to impact access. >> the point before you go on, a lot of that is about communicating to families what this means. it is far from perfect, but they are borrowing well beyond their families capability, baking on the fact that they will be able to. theret disagree that isn't a perfect model, but i think it has huge potential. >> i want to move on to questions from the audience because i want to get in as many as possible. i think what is interesting, so far, there seems to be a lot of changes that would take political will th
when it came out almost two years ago. we said that the uk consolidation would fail. it had too much revenue. as we are seeing now, millionaires and billionaires are heading for the exit. that is what we are going to see. >> thank you. mr. chairman, i yield back. >> i would like to congratulate the chairman on his election and the fine work he has done as chairman of this committee and to congratulate mr. brady on being selected as his chair of this committee and the next congress. for our distinguished witnesses, they agreed that what we need to do is have a long- term solution. i would like to ask dr. zandi how we achieve that. we are several million dollars apart from the president's proposal. how would you close that gap? proposalhe president's and speaker boehner's proposal. how can we get people employed and move our economy forward? >> i apologize. there will be a fair amount of numbers here. the president's tax revenue proposal amounts to about $1.6 trillion over a 10-year period. that is from higher tax rates. roughly 600 billion are from some kind of tax reform. they are al
to stay profitable going forward. aggreko, this is a power generator supplier here in the uk, down 15% after it was talking about the outlook for 2013. more muted than what certainly people had been expecting. and holcim, the world's biggest cementmaker, it's reinvesting, taking write-downs and charges in its fourth quarter in order to cut operations in most of the of its european operations down 1.3%. certainly not as much as adegreeso, but kind of a da room ter. i want to turn now to forex, show you what's happening with the euro first. over here, as you can see, we're down about .3%. that's consistent with what we're seeing across bourses. bond not all that interesting today. a bit of a mixed bag. and i'll end here, guys, on, of course, the dollar/yen. japan did have when aer being called transformative actions weekend. it still remains toes be seen whether shinzo abe is going to be the next prime minister. can it help spur the company back towards growth? remember, with currencies, it's all relative and there are a lot of other players around the world who are trying to weaken the
, italy, france and the uk. this comes one day after a federal judge denied a request by apple to ban u.s. sales of samsung smart phone models. the devices in questions are the ones that a jury back in august say illegally used apple technology. at that time apple had been awarded $1.1 billion in damages. >>> the markets, dow looks like it will open up about $68 points higher. s&p up about 10 points, the nasdaq up 22.5 points coming on some of this news that we may be getting closer on the fiscal cliff. let's check out what's going on in asia. hang seng was down off marginally. shanghai composite up marginally and the nikkei up as well. quickly in europe, you can take a look at what's going on there. the ftse up about 0.38%. cac flat, and the german dax up about 0.5. >> the white house is proposing a new deal to avoid the fiscal cliff. let's get to steve liesman with more of the details. >> you're surprised, aren't you? >> isn't it happening. >> soon as they want it done they can do it. >> you said it this morning. it's a fictitious thing. we're going to show you the movement in just a
will close at 12:30. facebook is accused of dodging taxes in the uk. the london "times" said they tried to hide taxes. a tablet for under $100, the journal said acer selling a $99 tablet next year. similar to the amazon kindle fire and barnes & noble nook color. >> by now, we all should certainly know about the fiscal cliff, shouldn't we. but there's another so-called cliff that's getting people's attention. brian shactman has more. >> some calling it the container cliff. negotiations broke down late last week. that could be bad news from massachusetts to texas. if there's no deal, several thousand dock workers could walk off the job at 15 ports at 12:01 a.m. on december 30th. this includes the port of new york and new jersey, which is the largest on the east coast, handling more than $200 billion worth of goods in 2011. a lot of that from china. the basic issue is this. there are container royalty fees which supplement wages. the employers want the amount capped. the dock workers do not. this is such a big deal florida governor rick scott sent a three-page letter to the president late
and repayment would be income base of. their problems with the model that needs to be worked out. in the u.k. needs to unveil this model. students or a concerned about the potential outcome. as the thought through and worked to it. it is an equitable model. the problem with doing anything up front as we did not know what they're earning potential will be until they are actually earning. any model we put up in place, there will be adjustments made. i really think making it all loan based and having loans repaid the base daunting come and the set of rules that would keep people from gaming the system based on their incomes as a better model than trying to plug the holes to increase pell or not. it addresses the up front issues with students who are really the first time it will to assess whether the are prepared to do college level work. this secure the loan debt. if we base on their income, if that is done influence their income, there are off the hook. the model and the funding has to work. i am not an economist. of a buffet and the out with you now. in terms of ideas that i see as games cha
they weren't replaced at all so you didn't end one that productivty benefits. this was also the case in the u.k. where they've seen that sort of dwerjens so when you look at the difference between productivty of the public and preist sector, it's technology. private sector has been able to harvest the productivty benefits of technology to take cost out and take it out in a pretty radical way. and that just hasn't happened here. i hold a little bit more hope for mobile in this regard which i think mobile has an opportunity to be more trance formative because people will interact more with government and we've goten smarter about that sort of thing. but we have to start closing down systems which i don't think happened to tay great extent. >> i'll just give you my experience of an account executive before i came to congress as well. agencies focus on their buments and it is the nature of man that people do not like to -- you get your savings and you don't get the benefit of those savings, they go to somebody who isn't doing the same kind of thing. so the nature of government makes this difficult
in the u.k., david cameron as well as the president australia. >> steve: it happened 23 hours and 30 minutes ago when adam lanza, 20 years olds walked into na school after he broke the glass out after he murdered his mother and shot dead 20 children and six adults and heard great stories of heroism. things that teachers and members of that particular sandy hook elementary school, the things that they did, a lot of them did the right stuff. unfortunately, this was a guy intent on killing. >> alisyn: we'll get to the stories about the teachers and the students there, but first let's just talk about who adam lanza is, because of course, everyone wants to know if there was a spark, a sign where somebody could have seen what was going to come. he's 20 years old. parents divorced in 2009. he's lived alone with his mother in newtown, connecticut and his dad lived in stanford and brother. and his brother 24 years old. ryan, lived in hoboken. he believed his brother was somewhere on the autism spectrum, might have had as perfecti perfecti asperger's. and he was a computer nerd and love video
. that is what we have to worry about because we already see this happening. we also see in the u.k. that there are people being arrested. .t may be nasty stuff turning around, after the levison inquiry, regulating media. where is speech? this is a dangerous stance we are about to go under here. there is a fight over the effort to make google pay for the link.. if you can do that for media, maybe you can do it for bloggers like me. there is danger there. in dubai, they refused to have a favor of having the right on line. instead, they ordered the introduction of a firmly worded press release. speech is in danger this year. facebook is a place where we can share and can act. it is going wrong -- a round. i urge you to recognize that we must not only get enamored with new tools and toys. we have an obligation to protect the freedom. share and can act. we must protect the net. [applause] >> the phrase rock star is thrown around a lot. i am happy to welcome a bonafide rock star, amanda plummer is best known as one half of the dresden dolls. she started releasing solo albums produced by
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